Belgium production outfit Corsan has announced a new production fund that will invest in up to five new films a year and worth $100 million, the company announced at the Toronto Film Festival today.
Operating as a third-party, Corsan will finance films already developed films, which will then be produced out-of-house.
Corsan’s most recent project is the Paul Haggis directed film Third Person, which stars Mila Kunis, Casey Affleck, James Franco, Liam Neeson and Olivia Wilde.
Launched in 1989, Coran’s initial business model revolved around raising investment through selling European foreign-language films before moving into English-language features with Chris Newby’s The Anchoress and Dominique Deruddere’s Suite 16.
In 2003 the company began to invest in exclusive project produced in-house, including Lee Tamahori’s The Devil’s Double and Mark Steven Johnson’s Killing Season. Haggis‘ Third Person goes into production on Oct. 17.
Corsan CEO Paul Breuhls said in a statement: “Setting up our own production financing has enabled Corsan to develop, finance and greenlight two to three films a year in-house without being dependent on third-party funding.
“However, we have grown the company to the point that we now want to branch out in setting up new types of funding partnerships.
“We are one of the few independent producers and financiers that have the financial capacity to invest in third-party films and our track record with our own productions demonstrates that when we make a commitment to a production, we deliver.”